Back On The Market: 1963 Ferrari 250 GTE

1963 Ferrari 250 GTE

Some of the finds we see never seem to actually get restored, just passed to the next owner for slightly more money than the last time. In the case of this Ferrari 250 GTE, I can’t say with 100% certainty that it’s the same car, but this looks like the same car we featured here back in September. The seller states that they bought it out of Southern California over the summer and that it is powered by a GM V8, so I’m feeling quite certain that it is the exact same car. It was then shipped to Valparaiso, Indiana where it resides now. It doesn’t appear that anything has been done to it since it was pulled from the garage. It’s now listed here on eBay where bidding has already reached $76k.

1963 Ferrari 250 GTE Enginejpg

It does seem the seller has done more research than the previous owner did and they offer more photos. They know where it was sold new and what options it was built with. They also offer more information about it’s condition, which is nice when buying a Ferrari over the internet! I won’t lie, I’m slightly curious to know what they paid for it, just to see if they are going to make or lose money on it. I’m going to guess opening it up to bidders on eBay will only drive the price up. Given that it has a V8 and what appears to be velour upholstery, I’m not sure how many Ferrari purists will want it though. I do like the ferrariesque crackle finished valve covers!

1963 Ferrari 250 GTE Interior

The seller puts a lot of emphasis on the adjustable seats, which they admit were recovered sometime in the ’70s, and how rare they are. At least the hardware is original and a good upholsterer could make up new leather covers. They also did their best to gloss over the V8 transplant, which they claim was a common activity for Ferraris of this vintage. An American V8 would make it easier and less expansive to keep running and they claim the body wasn’t modified to make it fit. If you could find a correct V12 engine for it, it would definitely add value, but if I were going to drive it I might actually leave the V8. I’m not sure if the seller’s estimate of this car’s potential value holds water, they think it could be worth $360k if restored, but without the numbers matching engine that will be a hard value to make real. So what do you think about this Ferrari, will anyone ever actually restore it or will it be destined to keep moving between owners?

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Comments

  1. dj

    It’s just going to be passed around. People have bought it thinking it would be easy to find the V12 and restore it. Then find that an engine will cost an arm, leg and first born child.

    Like 1
    • RayT Member

      But IF they can find the “correct” engine (and replace the Funny Fur on the seats) they will have a four-wheeled gold mine on their hands. Ferraris can be — and are — restored to their full glory (tactile, visual and financial) as long as you have the serial number.

      Not a good prospect for a flipper, though. They’d have to sink some real money into it before re-selling.

      Like 1
      • dj

        I know what you mean. I read where an original engine was found for one(it had been done the same way) but the buyer had to pay close to $1 million just to get it.

        Like 1
      • Rob

        If done right at the Ferrari Factory, I think this would be between 2 and 5 Million. The 250 series Ferraris are some of the most expensive cars in the world.

        Like 1
    • Robert White

      Plus your left nut too, dj.

      Bob

      • John H.

        Bob, your car pic is just bad ass beautiful!

  2. Dan h

    The cloth covered seats……what the? The engine conversion is bad enough, good god.
    I wouldn’t be able to sleep at night knowing my Ferrari had blue velour seats, let alone an American engine.

    Like 1
  3. randyS

    I would rock this as-is with the big block. Curious what the stamp pad says the engine specs are? Would have to get a 5/6 speed to replace the auto and change the upholstery back to nice leather. Still at 50-80k buy-in I am just dreaming. I remember just a few years ago these 250 GTEs were unloved and used as donors for GTO replicas – you could find them all day for $20k. Now $300k for a restored one?!?

  4. Blindmarc

    Showing unsold now, per supplied link

  5. David Church

    This car very likely could be the Ferrari owned by Bob Parlee, a friend of my dad’s in Long Beach, California. Bob had constant problems keeping the V-12 running and there was the standing joke among all of Bob’s friends that it was “carbon on the valves.” a line from a movie in which the star had one.

  6. Dolphin Member

    The Ebay listing was ended without a sale by the seller because he mistakenly excluded bidders from outside the US. The car has been relisted under auction number 301820760865, with shipping now worldwide.

    This is one of the most offputting Ebay listings in recent memory. The seller is counting his money in advance, making many claims about how wonderful this car is and how much more wonderful it could be made with the new owner’s added money and effort. To me it’s hard sell of the worst kind.

    These 250 GTEs were made in large numbers (for a Ferrari), and languished near the bottom of Ferrari values for decades. They have been sucked up by the high prices paid for rarer, more exotic Ferraris, and they will be the first to see their values drop if the collector car bubble bursts. That happened in the early 1990s, and things in the stock markets and economy are beginning to look shaky. The bubble could burst again, especially for a car like this. This would be a very risky purchase if the bidding goes to where the seller wants it to go.

  7. David Frank David Member

    And could be the seller discovered the V8 conversion was done so poorly it’s not even a good driver? For starters, that throttle cable linkage looks pretty iffy. Is it an optical illusion, or is the engine really off center to the left?

  8. Rich

    For being such an exceptional car as the seller claims he could’ve at least vacuumed out the interior.

  9. Olaf E

    Here is the link to the relisting that Dolphin just found

    http://www.ebay.com/itm/Ferrari-California-250-GT-E-Series-III-/301820760865?forcerrptr=true&hash=item4645eb5321:g:tjEAAOSwnipWaMip&item=301820760865

    I believe the few things that the seller has added are:

    “Our Car is FERRARI Chassis # 250 GT / E * 4777 * (see photo above of actual #’s incised on Chassis)…!!!
    These 250 GT Cars were built in Modena Italy at the FERRARI FACTORY during the same time as the famous 250 GTO Race Cars that sell for between $35Million to $75Million dollars…!!!”

    And he seems to be ‘willing’ to trade:

    “FINAL THOUGHT – I am always willing to consider other interesting cars of the 50’s and 60’s including: 166 190 200 206 246 250 275 300 330 356 365 375 400 450 500 550 750 904 906 911- etc…etc…

    FERRARI – MASERATI – LAMBORGHINI – ISO – BIZZARRINI – ALFA ROMEO – LANCIA – MERCEDES – PORSCHE – BUGATTI – ETC…ETC… “

  10. Rancho Bella

    It was common not all that long ago to pull the drivetrain. Send it to the U.K where the master metal men would build rare Ferraris and ship the complete running car back to the U.S, then off to the auction.

    I thought it was same as my favorite is the 250 GTE. So elegant

    • Rancho Bella

      Ashame…………as my favorite is ……..sorry, old age

  11. Peter R

    I think the restoration costs including a motor will far exceed the value when finished. Also the ad has to be one of the worst I’ve ever seen. Many of the claims are just not right and his idea of values is off the chart.
    Run, don’t walk, away

  12. brakeservo

    Thirty years ago people did some truly strange things with Ferraris – in southern Oregon I saw one of these that had the front end of the Ferrari chassis sawed off and a Studebaker IFS welded on in it’s place, plus of course the obligatory small block Chevy!!

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